Short answer
Often yes, but how depends on the bond. Many bonds can be cancelled with written notice to the obligee and surety, sometimes after a required notice period, and a bond may stay liable for obligations that arose before cancellation. License bonds usually cannot simply be dropped while you still hold the license that requires them.
Cancellation rules are set by the bond form and state law. Some bonds allow the surety or principal to cancel with advance written notice, after which the surety's future liability ends, though it can remain responsible for claims tied to the period before cancellation. Other bonds are harder to exit.
For a license bond, cancelling while the license is active can put the license out of good standing, so cancellation usually goes hand in hand with no longer needing the license. Always confirm the specific bond's terms before cancelling.
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